Novo Nordisk surge buoys European shares after two-day slide

viernes 27 de marzo de 2015 07:39 GYT

* FTSEurofirst 300 up 0.7 pct after losing 1.9 pct in 2 days

* Novo Nordisk up 13 pct after deciding to submit drug data

* Euro zone shares recover as euro falls back (Adds quote, detail, updates prices)

By Blaise Robinson and Alistair Smout

PARIS/LONDON, March 27 (Reuters) - European stocks rose on Friday, halting a sharp two-day retreat and helped by a surge in Novo Nordisk and a renewed fall in the euro, which supported exporters.

Denmark's Novo Nordisk jumped 13 percent after the pharmaceutical firm said it would submit interim data from a clinical trial of its crucial new insulin drug Tresiba to U.S. regulators within the next month.

"Because the company's medium-term growth projections depend on U.S. Tresiba this is a positive for sentiment," analysts at Barclays said in a note.

Sports retailer Adidas rose 5.6 percent to a nine-month high after a bullish investor day, with a couple of brokers upgrading their target price on the stock.

At 1122 GMT, the FTSEurofirst 300 index of top European shares was up 0.7 percent at 1,585.32 points.   Continuación...